Why should I teach my kids about money?
It’s really important to teach our kids about money because having good financial management skills is an important life skill and as parents we want to raise our kids to be financially independent and responsible adults.
We also want to help them avoid some of the hardships and pitfalls that being bad with money can bring. Canadian parents are trying to teach their kids about money but they are finding it difficult. A recent survey conducted by the Canadian Institute of Chartered Accountants found that 78% of parents have tried to teach their kids about money but the majority don’t feel that they have been particularly successful at it. So that’s why the CICA has published A Parent’s Guide to Raising Money-Smart Kids.
Robin Taub is a Chartered Accountant, and author of the book “A Parent’s Guide to Raising Money-Smart Kids”.